Self-Managing a Walsall Property… I Can DO It…!!

Self-Managing a Walsall Property… I Can DO It…!!
Self-Managing a Walsall Property… I Can DO It…!!

During my rounds in Walsall town centre this weekend I bumped into one of our Let Only landlords who I hadn’t seen for a while.  I’m going to call her Ally Monie just for the fun of it!  We decided to have a catch-up over a coffee inside the new Co-Op on Bridge Street (lovely it was too!!).  She told me about the shock and dismay when she recently visited one of her properties after 3 years!

It’s ok, it’s not one of those horror stories that you hear where there was a cannabis factory in the loft, or there were four other people living in the property that shouldn’t have been or worst still the property was deliberately trashed, or is it…

Ally owns a number of properties and used our services to provide our Walsall Tenant Find Only service.  She didn’t need an Agent for management, agency fees are money for old rope, and she had plenty of time to manage.

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Today’s BTL Deal Is A Bargain Yielding 6.91%, 2 Bed Terraced House, Dalkeith Street, Walsall, WS2.

Earlier this week I was in the enviable position of letting a property on this very street for one of my clients. This is also a two bedroom terraced house on Dalkeith Street, Birchills, Walsall, WS2. So, naturally this property grabbed my eye.

It ticks all the boxes for an investment property. Neutrally decorated throughout, which looks new by the way. Gas central heating, modern fitted kitchen and shower etc . The listing lacks photos of the rear garden, so that would need to be checked out via a viewing. You don’t have to do this, but I would advise providing some flooring throughout with some nice hard wearing carpet, just to give the property a nice clean and fresh appeal.

Schools and healthcare facilities are in abundance with transport services, bus routes and major road networks nearby. Walsall town centre is only a short walk away, however there are some local amenities.

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WALSALL LANDLORDS – THREE THINGS I’ll be doing over Christmas 2017!!

WALSALL LANDLORDS - THREE THINGS I’LL BE DOING OVER CHRISTMAS
WALSALL LANDLORDS – THREE THINGS I’LL BE DOING OVER CHRISTMAS 2017

My Blog reading friends and existing clients will know that at some point over the Christmas break I get fed up of all the eating, drinking and partying.  “Bah! Humbug!” I hear you say…but in reality I think it’s simply that as a busy business owner, my mind and body can’t take the change in pace from mad and hectic to practically a vegetative like state.

So it’s usually around this time of the year, when I hit that point and I need to re-engage my brain, this is what I plan to do…

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Today’s BTL Deal, One Bed Semi, Wareham Close, Walsall, WS3 Yields Of 7.20%.

A one bedroom terraced house in a popular estate in Walsall for rentals. It is a very nice spec and billed as a buy to let opportunity and already being let as is. However, it is not clear from the listing whether the property comes with the current “Sitting tenant”. It is a modern build with all the relevant features e.g. double glazing, gas central heating type, fitted kitchen, bathroom with shower, low maintenance gardens and off-road parking.

It would be better appreciated by a viewing. The location is within easy reach of all the major road networks, services and other amenities lending easy access to Walsall town centre.

The current asking price is fore offers over £75k and based on the current rental of £450.00 pcm will return a yield of 7.20%. However, I feel that offers “Over” the asking price are asking a little too much.

Currently on offer with Goodchilds (01922 312016) click here for the full details http://www.zoopla.co.uk/for-sale/details/40817062 and the EPC can be found here.

If you are thinking of getting into the property rental market and don’t know where to start, speak to us for impartial advice and guidance to get the best return on your investment.

For more information about other potential investment properties that we could introduce you to, or to ask about our thoughts on your own investment choices, call us now on 01922 311016, you can always email me on salekm@ashmorelettings.co.uk.

Don’t forget to visit the links below to view back dated deals and Walsall Property News

Blog: www.walsallpropertyblog.com

Facebook: https://www.facebook.com/AshmoreLettings

Twitter: https://twitter.com/AshmoreLettings

 

How much are Walsall Buy-to-Let Yields a year?

How much are Walsall Buy-to-Let Yields a year?
How much are Walsall Buy-to-Let Yields a year?

Purchasing your first Walsall buy to let (BTL) property is not the same as buying one to live in.  You have to employ a completely different set of tactics, methodology and mind-set.

The main difference is when purchasing your own property, you may well pay a little more to get the home you and your family want, and are less likely to compromise.  When buying for your own use, it is only human nature you will want the best, so that quite often it is at the top end of your budget; because as my parents always used to tell me – you get what you pay for in this world!

Yet with a Walsall buy to let property, if your goal is a higher rental return – a higher price doesn’t always equate to higher monthly returns – in fact quite the opposite.  Reasonably priced Walsall properties can bring in higher monthly returns.  Most landlords use the phrase ‘yield’ instead of monthly return.  To calculate the yield on a buy to let property one basically takes the monthly rent, multiplies it by 12 to get the annual rent and then divides it by the value of the property.

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Walsall Town Centre, Tameway Plaza – ‘No Mortgage’ Investment Opportunity

Tameway Plaza - Walsall Town Centre
Tameway Plaza – Walsall Town Centre

If you follow the Walsall Property Market News like I do (not just the residential) then, you will be well versed with past, present and planned future developments.  Amongst the proposed £90m transformation of the town centre recently it has been announced that more than 100 jobs will be created by developing a piece of derelict land back into commercial use with a further £6.9m investment.

In recent years we have had the new 24hr Tesco, the Primark development (which was extremely busy on Saturday), The Quarter has just been finished with Poundland and B&M taking up occupation anytime now and there are plans to revamp The Saddlers Centre!  So, with all this happening around the commercial side of property “what about residential” I hear you ask…?

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Walsall Property – Jargon Busting Terminology (PART 1)

Walsall Property - Jargon Busting Terminology (PART 1)
Walsall Property – Jargon Busting Terminology (PART 1)

Something different this week for my blog reading friends…in recent months I have been asked on several occasions to explain certain terminology that has cropped up during Walsall property transactions or just in conversation.  For ease of reference I have gone through the list in alphabetical order; the overwhelming array of acronyms and specialist terminology in simple layperson terms.  To save the article from being endless pages I have split this into two parts with part 2 releasing soon – so watch this space!  If there is anything I may have missed please feel free to comment or get in touch.

The meaning behind the lingo…

A

Abandonment – Abandonment is when a tenant leaves the property (usually without notifying the landlord or agent) before the tenancy has ended.  Very often this occurs when the tenant owes rent and the tenant may or may not leave possessions in the property.  Although the tenant is in the wrong for many reasons, they still have a legal tenancy and can return and demand to take up residence at any time, despite not paying rent.  Taking over an abandoned property is fraught with difficulties for the landlord and specialist advice should be sought.

Advance – A mortgage loan – an additional loan is referred to as a further advance.

Adverse Credit – Used to apply to a borrower or application that has past problems with bad credit, for instance frequent late payment, breached arrangement, bankruptcy or County Court Judgement.

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